MANILA, Philippines–Globe Telecom was recently recognized as one of Southeast Asia’s top companies for its investor relations and dividend policies by the Institutional Investor Corporate Awards organized by institutional investment publication Alpha Southeast Asia.
Globe was lauded for Best Senior Management Investor Relations (IR) Support and Most Consistent Dividend Policy based on the results of the annual poll conducted by Alpha Southeast Asia, the first and only institutional investment magazine focused on Southeast Asia.
The poll was participated in by more than 450 investors and analysts across Southeast Asia, which included fund managers, large institutional investors, insurance companies, pension funds, private banks, equity and fixed income brokers as well as buy and sell-side analysts.
Other categories include Most Organized Investor Relations, Strongest Adherence to Corporate Governance and Poor Management Access and Investor Relations.
“Globe is one of Southeast Asia’s leading companies today. It has continuously raised the bar in corporate transparency, fair disclosure and good governance,” said Siddiq Bazarwala, publisher of Alpha Southeast Asia.
In a statement, Ernest Cu, President and CEO of Globe, shared: “We are honored with this citation. This is a testament to our commitment in practicing good corporate governance and shareholder relations which significantly drives growth and sustainability of our business.”
In line with the company’s dividend policy of distributing between 75 percent to 90 percent of its 2010 net income, the Globe Board of Directors declared the first semi-annual cash dividend of P31 per common share, paid out to shareholders on March 18, 2011.
On an annualized basis, the first semi-annual cash divided payment of P4.1-billion represents 84 percent of 2010 net income, similar to the previous year’s pay-out rate and translates to an attractive dividend yield of 7.8 percent, using end-2010 share prices.
Alpha Southeast Asia, with main offices in Hong Kong, is a monthly magazine primarily written for institutional investors, asset and fund management companies in Hong Kong, Singapore, other parts of Asia, US, Europe and the Middle East.